RCI Hospitality Holdings Inc to Post Q2 2024 Earnings of $0.70 Per Share, HC Wainwright Forecasts (NASDAQ:RICK)

RCI Hospitality Holdings Inc (NASDAQ:RICK) – Equities researchers at HC Wainwright lowered their Q2 2024 earnings estimates for shares of RCI Hospitality in a research note issued to investors on Thursday, April 11th. HC Wainwright analyst S. Buck now anticipates that the restaurant operator will post earnings per share of $0.70 for the quarter, down from their previous forecast of $0.93. HC Wainwright currently has a “Buy” rating and a $115.00 price objective on the stock. The consensus estimate for RCI Hospitality’s current full-year earnings is $3.84 per share. HC Wainwright also issued estimates for RCI Hospitality’s Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $1.05 EPS and FY2024 earnings at $3.53 EPS.

RCI Hospitality (NASDAQ:RICK) last issued its quarterly earnings results on Thursday, February 8th. The restaurant operator reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.06). RCI Hospitality had a return on equity of 10.67% and a net margin of 8.81%. The company had revenue of $73.90 million for the quarter, compared to analysts’ expectations of $73.30 million. During the same quarter in the previous year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis.

Several other brokerages have also issued reports on RICK. StockNews.com upgraded shares of RCI Hospitality from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. TheStreet lowered shares of RCI Hospitality from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th.

RCI Hospitality Trading Down 1.1 %

Shares of RICK stock opened at $50.24 on Monday. The company has a 50 day moving average of $55.93 and a 200-day moving average of $58.35. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. RCI Hospitality has a 12-month low of $49.80 and a 12-month high of $79.46. The firm has a market cap of $470.25 million, a P/E ratio of 18.01, a PEG ratio of 1.10 and a beta of 1.65.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in RCI Hospitality in the 1st quarter valued at $27,000. Cannell Capital LLC bought a new position in RCI Hospitality in the 1st quarter valued at $28,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of RCI Hospitality during the 4th quarter worth $28,000. Tower Research Capital LLC TRC lifted its holdings in shares of RCI Hospitality by 112.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 528 shares of the restaurant operator’s stock worth $34,000 after acquiring an additional 280 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in shares of RCI Hospitality during the 1st quarter worth $39,000. 53.82% of the stock is owned by institutional investors.

Insider Activity at RCI Hospitality

In other RCI Hospitality news, CEO Eric Scott Langan acquired 1,000 shares of RCI Hospitality stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $54.54 per share, for a total transaction of $54,540.00. Following the purchase, the chief executive officer now owns 703,000 shares of the company’s stock, valued at $38,341,620. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.34% of the stock is owned by company insiders.

RCI Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.48%. RCI Hospitality’s dividend payout ratio is 8.60%.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in Nightclubs, Bombshells, and Media Group segments. The company’s wholly-owned subsidiaries own and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Scarlett's Cabaret, Temptations Adult Cabaret, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Cabaret East, The Seville, Silver City Cabaret, and Kappa Men's Club.